Top 3 Trends Impacting the Global Ticket Market Through 2021: Technavio

LONDON–(BUSINESS WIRE)–#MobileTicket–Technavio’s latest research report on the global
ticket market
provides an analysis on the most important
trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.


According to Ujjwal Doshi, a lead analyst from Technavio, specializing
in research on internet
and e-commerce
sector, “The disposable income of
people in developing countries has increased in line with economic
growth. Worldwide economic recovery, especially in countries such as the
US, the UK, Germany, South Korea, China, and Singapore, is driving the
global
ticket market
.”

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The top three emerging trends driving the global ticket market according
to Technavio media
and entertainment
research analysts are:

  • Increasing number of sporting events
  • Analysing consumer behavior through mobile ticketing apps
  • Evolution of mobile ticket sales

Increasing number of sporting events

The passion for sports
has led to the development of several sporting events. The Olympics
Games, FIFA World Cup, Super Bowl, and Cricket World Cup are some of the
most popular sports that are watched by billions of people across the
world. Super Bowl, which is an American football game, is played
annually and has millions of viewers. Cricket World Cup and FIFA World
Cup are played in four-year gaps. Games such as UEFA Champions League,
Rugby World Cup, Formula One Racing, and Wimbledon Tennis are some of
the other games with the highest individual traction. With the
increasing interest and passion for sporting events among individuals,
there is an increase in the number of tickets being sold each year. This
is leading to the high growth of the global ticket market.

Analysing consumer behavior through mobile ticketing apps

Several types of events are launched every year. To understand consumer
preferences, event organizers must come up with innovative ways to track
customer behavior and purchase patterns. With the help of mobile
applications, it is easier for event organizers to understand the
preferences of a buyer in terms of venue, event type, day, and time.
This helps event organizers post user-specific ads during live streaming
of an event. Such ads attract customers to buy event tickets, which
helps to increase the revenue inflow of the event ticket market.

Evolution of mobile ticket sales

As the numbers of event is increasing every year, event
managers
and organizers are continuously putting in efforts to
come up with an advanced and upgraded solutions to offer maximum comfort
and benefit to consumers. Mobile ticket sales are one of the
major upcoming trends in the global secondary ticket market. Mobile
tickets allow users to choose the event and venue using the app. With
the help of mobile tickets, individuals can book tickets at their
convenience and store them in their devices, eliminating the need for
taking or carrying a hardcopy to the venue. In addition, individuals can
use mobile apps to resell tickets to others at any time if they do not
wish to use them.

“Mobile ticket sales also help in in-app advertising, which is cost
effective compared to the traditional mode of advertising. The increased
adoption of smartphones and tablets is expediting the growth of the
global ticket market,”
says Ujjwal.

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Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
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and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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